Daldrup & Söhne with drilling contracts for heating projects in Belgium and Netherlands

German geothermal developer and drilling company Daldrup & Söhne AG, announces two new drilling contracts for geothermal heating projects in Belgium and the Netherlands, and expects the start of operation for its Taufkirchen project in September 2015.

The order from the Netherlands comes from the Nature’s Heat BV, a consortium of ten greenhouse operators in the South of the Netherlands. The group wants to derive heat from geothermal wells for a a central heating system and the associated district heating distribution network. The wells have a drilling target depth of about 3,000 meters. The funding for the EUR 15 million ($17 million) project will come from a Dutch bank. The project has secured an exploration risk insurance, which decreases the risk for the project. Spudding for the project is expected for October this year.

In July, Daldrup received another contract by Belgian company NV Vito with a contract value of EUR 6.5 million ($ 7.3 million). Drilling for this project will start in September 2015.

Depending on the result, which should be available in late November, a second well with a depth of 4,200 meters will be drilled.After that is decided over three further wells, which would increase the value of the contract for the entire project to EUR 31 million ($35 million). For this project Daldrup works in JV with Belgian Smet Boring NV, but holds 96% in the JV.

Daldrup also indicates it expects the start of operation of the geothermal power plant at its Taufkirchen geothermal project in Germany for September 2015.